Oracle Corp. on Wednesday reaffirmed its quarterly financial targets, saying it was optimistic about its own sales prospects despite concerns of slowing economic growth and a recent flurry of warnings in the business software sector.
Oracle Chief Executive Larry Ellison, meeting with financial analysts, also said the Redwood Shores, California-based company remained interested in potential acquisitions but was not likely to enter another deal while its hostile bid for PeopleSoft Inc. was pending.
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Ellison said the recent warnings from several business software companies had reinforced his belief that the sector was ripe for consolidation, much like the railroad sector a century ago.
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Oracle has said previously it was looking at acquisitions to drive growth, including Siebel Systems Inc., located right down the road from Oracle.
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